Venue owners haven't closed the door

The owners of the tunnels underneath London’s Waterloo station have not ruled out hosting the Vault festival in future.

Yesterday, the event’s organisers said they had to move out of the venue they have used since 2012 and launched a £150,000 crowdfunder campaign to secure its future.

Now the landlords, confusingly called The Vaults, said the sticking point was that they could not make a long-term commitment to the festival.

‘Their insistence on booking in future festivals in advance is a larger commitment than we’re able to give them in the current economic climate,’ a spokesperson for the venue told Chortle.

And while they said ‘we’re sad to confirm that this may be the last Vault Festival at The Vaults', they added: 'The Vaults will continue to support the festival in anyway we can, with the option to host it again in the future.’

Yesterday festival co-founder Andy George described the venue’s decision as a ‘devastating blow’ coming after ‘three of the harshest and hardest years of the festival’s life’

The Vaults spokesperson added: ‘Before the pandemic we were able to support and subsidise Vault Festival, relying on large corporate bookings to see us through the year. But the world has changed, and those bookings are no longer able to be relied upon.

‘We celebrate the amazing work Vault Festival and The Vaults have achieved together. We’ve turned these derelict tunnels into an award-winning theatre space. The Vaults will continue to support the festival in anyway we can, with the option to host it again in the future.

‘In the meantime we are working hard to create a sustainable, inclusive, welcoming space that supports staff in the creative arts year round, and provides audiences with amazing experiences.’

The decision does not affect this year’s two-month event – the first since the pandemic – which runs until March 19, both in the tunnels and other venues nearby.

Click here for more details of the Vault festival’s campaign.

Published: 16 Feb 2023